Sprout Social (NASDAQ:SPT) Price Target Raised to $42.00

Sprout Social (NASDAQ:SPT) had its price target upped by Jefferies Financial Group from $34.00 to $42.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on SPT. Morgan Stanley boosted their price objective on Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Barclays reduced their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Oppenheimer reduced their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.58.

Sprout Social Trading Down 0.5 %

Shares of Sprout Social stock opened at $33.37 on Monday. Sprout Social has a 52-week low of $25.05 and a 52-week high of $68.41. The stock’s 50-day simple moving average is $32.49 and its 200 day simple moving average is $31.04. The stock has a market capitalization of $1.92 billion, a P/E ratio of -27.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. As a group, research analysts anticipate that Sprout Social will post -0.99 EPS for the current year.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the sale, the director now owns 35,665 shares of the company’s stock, valued at $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the completion of the sale, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,265 shares of company stock valued at $2,533,406. 10.97% of the stock is owned by corporate insiders.

Institutional Trading of Sprout Social

Several hedge funds and other institutional investors have recently bought and sold shares of SPT. Quarry LP lifted its position in Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares during the last quarter. US Bancorp DE lifted its position in Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV lifted its position in Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares during the last quarter. Assetmark Inc. lifted its position in Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new stake in Sprout Social in the fourth quarter valued at approximately $206,000.

About Sprout Social

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.